Cintas Co. (NASDAQ:CTAS) Stock Position Increased by Dearborn Partners LLC

Dearborn Partners LLC boosted its position in shares of Cintas Co. (NASDAQ:CTAS) by 292.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 197,002 shares of the business services provider’s stock after buying an additional 146,777 shares during the quarter. Cintas accounts for approximately 1.6% of Dearborn Partners LLC’s investment portfolio, making the stock its 20th largest position. Dearborn Partners LLC’s holdings in Cintas were worth $40,559,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CTAS. LGT Financial Advisors LLC boosted its holdings in Cintas by 311.1% during the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock worth $26,000 after buying an additional 28 shares in the last quarter. Financial Management Professionals Inc. lifted its position in shares of Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 99 shares during the last quarter. Hollencrest Capital Management boosted its stake in shares of Cintas by 433.3% during the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Cintas during the second quarter worth $27,000. Finally, Addison Advisors LLC lifted its holdings in shares of Cintas by 495.7% during the third quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 114 shares during the last quarter. 63.46% of the stock is owned by institutional investors and hedge funds.

Cintas Stock Down 2.9 %

Shares of CTAS stock opened at $217.05 on Friday. The stock’s 50 day simple moving average is $220.75 and its 200 day simple moving average is $194.79. Cintas Co. has a twelve month low of $136.50 and a twelve month high of $227.35. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The company has a market capitalization of $87.54 billion, a price-to-earnings ratio of 54.81, a PEG ratio of 4.40 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last posted its earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the business posted $3.70 EPS. Cintas’s revenue was up 6.8% compared to the same quarter last year. As a group, research analysts predict that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its board has approved a stock buyback plan on Tuesday, July 23rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.72%. Cintas’s payout ratio is 39.39%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CTAS shares. The Goldman Sachs Group lifted their price target on Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Wells Fargo & Company lifted their price objective on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Stifel Nicolaus increased their target price on Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a report on Friday, July 19th. Finally, UBS Group upped their price target on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cintas has a consensus rating of “Hold” and a consensus target price of $199.63.

Cintas Company Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.